iRhythm decline attributed to Washington Analysis report

Shares of iRhythm Technologies (IRTC) are falling sharply, which Bloomberg is attributing to a report from Washington Analysis estimating that a 45%-65% reimbursement cut is possible for the company’s Zio XT Patch. A Medicare cut for Zio XT may not come until the second half of 2021, said Washington Analysis, according to Bloomberg. In late morning trading, shares of iRhythm are down $8.51, or 10.5%, to $72.23. On its website, Washington Analysis describes itself as “a top-rated independent institutional research boutique focused on anticipating and analyzing changes in public policy that will impact the financial markets.”

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